Goodman bid for PEPR rejected

Goodman is apparently in a buying mood these days. Last month it announced its acquisition of the ING Industrial Fund. Now it’s revealed the real size of its appetite after announcing that its bid to purchase ProLogis European Properties, in tandem with Algemene Pensioen Groep, was rejected. Another proposal could be made within the next two months.

Is ProLogis interested? Not by the sounds of it: Walter C. Rakowich, ProLogis CEO said, “ProLogis has no intent or desire to sell its interest in PEPR. Additionally we have no intention of selling or relinquishing the management of PEPR. The value proposition of PEPR has always been inextricably linked to ProLogis’ active ownership and management.